Philippine Postal Corp. (Philpost) will begin the digital transformation of 13 offices across the country in partnership with Aboitiz-led Union Bank of the Philippines.
This will allow the national postal service agency to offer financial and data services in line with the government’s ambitious target to widen access given the vast population of unbanked Filipinos or those without at least a basic savings account.
UnionBank’s investment and innovation subsidiary, UBX Philippines, will help Philpost “digitally transform” offices in Tuguegarao City, Sorsogon Province, Iloilo City, Zamboanga City, City of Manila, Taguig City, Makati City, Quezon City, San Francisco, Cebu; Davao City; Ilocos Norte; Tacloban, Leyte, and Marawi City.
The transformation of the first 13 offices is expected to be completed within three months.
“Philpost will transform their post office branches in the country into financial services hubs to promote financial and social inclusion, especially in far-flung areas,” Postmaster General Norman Fulgencio said in a statement.
The sites, chosen after getting the support from local government units, were part of Philpost’s 4,000 outlets nationwide. UBX president and CEO John Januszczak said the areas were also selected to ensure the viability of services.
Under the partnership, UBX will provide “the necessary technologies in digital finance and open finance to hasten PHLPost’s digital transformation journey.”
“These areas will be the first to see PHLPost transform its outlets into financial hubs, offering various types of services such as disbursements, fund transfers, cash withdrawals, loan applications, payments, insurance and collections, among others,” the statement showed.